Binance Shares User Data with Moscow Amid Russia Exit Controversy

Binance, the largest cryptocurrency exchange, has been embroiled in controversy after sharing client data with Moscow authorities over Ukraine crypto donations. The case involves 49-year-old Russian IT worker Yuri Belenkiy, who was arrested and charged with terrorism financing.

Believe it or not, this happened despite Binance's claim of a full exit from Russia in 2023. However, the company said it was responding to a lawful request and cooperated with law enforcement globally, subject to applicable legal, privacy, and regulatory requirements.

The exchange shared Belenkiy's transaction records, which included his date of birth, home address, phone number, passport details, Russian passport copy, and Bulgarian residency permit. These records were later used as evidence in the case against Belenkiy.

Dmitry Zair-Bek, head of The First Department, questioned how users could expect their data to stay private if Binance had already said it had left Russia. This has raised concerns about user data sharing and Binance's Russia exit.